Fear of the future (financially)

[thriftyc]

Hi all,

I have this fear that I will run out of money in the future - anyone else feel this way?

[BPA]

Hey there!  I'm in the Hammer too.

It could happen, but I refuse to be afraid.  I have contingency plans like moving down east and working seasonally.  I could always pick up some job to support myself.  My kids are pretty much grown and I like living simply and frugally. 

So, no fear is my mantra. Fear ruins joy.

[lbmustache]

Hi all,

I have this fear that I will run out of money in the future - anyone else feel this way?

I always do. So far that fear has not materialized, but I do rest a little easier knowing I have an emergency fund, and family as a last resort.

[La Bibliotecaria Feroz]

With fears for anything that might happen, I just remind myself that I'm resourceful and hardworking and I'll figure it out as I go. Realizing about that myself has been the most liberating part of adulthood :-).

[okits]

Yup!  I have Bag Lady Syndrome, a fear of ending up on the street as a bag lady.  Far-fetched and irrational, but persistent and terrifying, nonetheless.

I tell myself:

1) from my current point, the things that could bankrupt me are things that I'll see coming (or that will take time to fully clean out my assets.) I will have the opportunity to adjust course and compensate for hardships.  There will be no light switch that instantaneously renders me destitute.

2) Social safety net.  Worst-case scenario, welfare.  If you're a senior, CPP, plus OAS and GIS.  There will be no flying first class in that case, but you won't starve or be on the street.

Knowing my personality, I am much more likely to over-save and hoard money than run out.  If you're like me, remind yourself not to ensure a sub-optimal life now simply out of fear that things might possibly be non-ideal in the future.

[thriftyc]

Hey there!  I'm in the Hammer too.

It could happen, but I refuse to be afraid.  I have contingency plans like moving down east and working seasonally.  I could always pick up some job to support myself.  My kids are pretty much grown and I like living simply and frugally. 

So, no fear is my mantra. Fear ruins joy.

Hey there neighbour!  My kids are younger - my wife works part time....and I am about to pull the plug on FT work!  I think Hamilton is the perfect place to ER!

[Landlord2015]

I believe to be slighlty scared can be good because it shows that you also have some sense. However don't let fear control you completely but neither taking stupid risks is wise.

However as economics come if you are afraid then don't take that risk. Nobody said that you have to invest and decision is yours.

I would not call myelf coward lol... I have done my share of mandatory(must do!) military service in my country Finland, but that was less then a year we don't do mandatory service for years.

I also like horror movies. There are many scary things out in the world for sure... war, predator animals, diseases, hardcore criminals the list goes on.

I am not scareless and to be prepared and have a sense of what is good for one is wise, but don't neither let fear parayze you totally. I like this song:
Eminem - Not Afraid:
https://www.youtube.com/watch?v=XTO4Q8bebJ4

[Joan-eh?]

Fear is a complex emotion.

these questions help me:

What is/are worst case scenario(s)?

What strengths do I/you have that you could call upon to get you through that situation?

[BPA]

Hey there!  I'm in the Hammer too.

It could happen, but I refuse to be afraid.  I have contingency plans like moving down east and working seasonally.  I could always pick up some job to support myself.  My kids are pretty much grown and I like living simply and frugally. 

So, no fear is my mantra. Fear ruins joy.

Hey there neighbour!  My kids are younger - my wife works part time....and I am about to pull the plug on FT work!  I think Hamilton is the perfect place to ER!

Good luck!  I love Hamilton, but I love Prince Edward Island too and could be happy either place.  I'm planning to go back to Mac and hope to TA a bit.  Feels like the BPA Renaissance! 

And some inspiration from our fearless leader (and former Hamiltonian ;)): http://www.mrmoneymustache.com/2013/07/10/if-i-woke-up-broke/

[Jschange]

I'm scared! I am confident that once I own my home, I'll be able to pick up work to cover expenses or I can easily get by if I qualify for government help. I'm using that fear as a big motivator to save for a big down payment and then pay off the house asap

[ahoy]

I have a fear of the next recession.   Economically things do not look good (anywhere).

[dude]

I have some fear of a negative sequence of returns upon retirement.  But it's not anything I can control, so I just try to plan the best I can for contingencies and hope for the best.  I don't fear running out of money altogether because I'm fortunate enough to have a solid pension and SS benefits down the road. 

[Liggy]

Fear is a complex emotion.

these questions help me:

What is/are worst case scenario(s)?

What strengths do I/you have that you could call upon to get you through that situation?

Exactly the way I approach it, my partner suffers with anxiety so this method doesn't work for her quite so well but I'm helping her overcome it